Abramovich, owner of Chelsea Football Club and the world’s 22nd richest person according to Forbes, has been added to sanctions list by the British government. The decision comes after Russia’s interference in Brexit referendum as well as other international conflicts such as Syria.
Following their inclusion on the country’s sanctions list, the UK government said on Thursday that seven Russian businessmen, including Roman Abramovich, Igor Sechin, Oleg Deripaska, and Dmitri Lebedev, had their assets frozen.
“Those who have backed Putin’s savage attack on Ukraine cannot have safe havens,” UK Prime Minister Boris Johnson stated.
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Abramovich owns Chelsea Football Club, Deripaska has shares in En+ Group, Sechin is the CEO of Rosneft, and Lebedev is the chairman of Bank Rossiya’s board of directors.
After imposing fines on Abramovich, the United Kingdom government announced it would allow Chelsea to continue playing matches, putting an end to his ambition to sell the English Premier League club.
Abramovich had placed the club up for sale, but Britain’s asset freeze and fines against him prevent him from doing so under the rules of the club’s license.
Because the government did not want to hurt the reigning European and global football champions, Britain’s minister for sport, Nadine Dorries, claimed the government had provided a special license to allow Chelsea to play games, pay personnel, and allow ticket holders to attend matches.
“I understand that this creates some uncertainty, but the government will work with the league and clubs to ensure that football continues to be played while punishments are applied to those who deserve them,” she stated on Twitter. “Our towns’ cultural assets and backbone are football teams. We’ll do all we can to keep them safe.”
Chelsea won five league crowns and two Champions League trophies during Abramovich’s ownership, which coincided with an era of extraordinary success — and expenditure.
The United Kingdom government has imposed fines on Chelsea owner Roman Abramovich. Getty Images/Clive Mason
Chelsea season ticket holders and those who have already purchased tickets are permitted to attend games, while parties who acquired or created club items before to Thursday are permitted to sell it, according to the authorities.
Under pre-existing agreements, broadcasters are entitled to broadcast any Chelsea games and may pay money to the club for broadcasting licenses relating to such events.
Payment agreements for loan or transfer players that were agreed upon before to the penalties are also possible.
The license, which went into force on Thursday and expires on May 31, will be reviewed, according to the government.
Abramovich has received many proposals for Chelsea, according to ESPN sources, but none have yet reached his £3 billion ($3.94 billion) estimate.
According to insiders, a partnership fronted by Todd Boehly, part-owner of the Los Angeles Dodgers and LA Lakers, and Swiss billionaire Hansjorg Wyss has already submitted a proposal to advance in the contest.
As a result of Thursday’s move, Abramovich is barred from transacting with British persons and enterprises, as well as entering or remaining in the country. His spokesperson refused to react right away.
Abramovich is the largest stakeholder of Evraz EVRE.L, a Russian steelmaker listed on the London Stock Exchange. Following the announcement of the penalties, it dropped by 16%.
Abramovich, a “prominent Russian businessman and pro-Kremlin oligarch,” was classified as “a prominent Russian businessman and pro-Kremlin oligarch” on Britain’s sanctions list.
According to the report, he has had a “decades-long tight friendship” with Russian President Vladimir Putin. It claimed that because of his friendship with Putin, Abramovich had received financial or material benefits from either the Russian president or the Russian government.
The website said that “this includes tax benefits granted by enterprises associated to Abramovich, buying and selling shares from and to the state at advantageous prices, and contracts acquired in the lead up to the FIFA 2018 World Cup.”
“The CST notes with alarm the government’s declaration about the owner,” a Chelsea Supporters’ Trust (CST) representative said in a statement. Supporters must be included in any discussion about the club’s long-term influence on its worldwide fan base.
“The CST urges the government to move quickly to reduce the uncertainty surrounding Chelsea’s future, and to provide fans with a golden share as part of any club sale.”